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Neighbour wants to buy my house

(31 Posts)
Heatherjayne1972 Wed 17-Feb-16 16:57:30

So the house is up for sale with a local EA. there's been lots of interest but no offers yet (been on the market almost a fortnight). Today my neighbour from two doors up knocked and asked if I be willing to sell to him for a cash sum .
What would you do ? What are the pitfalls? Should I just say no and stick with estate agent Or does it sound ok. I really have no clue.
Thoughts ...

FuckyNell Wed 17-Feb-16 16:59:37

Why not if he offers you the right amount?

writingonthewall Wed 17-Feb-16 17:00:07

You'll still have to pay the agent as it was presumably their board that alerted the neighbour that it was up for sale.

DSClarke Wed 17-Feb-16 17:00:31

I would wait, you don't know what offers you will get. Has he offered asking price?

Optimist1 Wed 17-Feb-16 17:01:33

Your contract with the EA probably means you're obliged to pay their charges even if they didn't introduce a buyer, so you can regard your neighbour's offer the same way as you would any other offer.

Twitterqueen Wed 17-Feb-16 17:02:18

depends on the price!
Are you terraced? semi? if so, I'm assuming he probably wants it to enlarge his own house?

A fortnight is nothing. I would wait until you get some firm interest and then play hard to get?

Heatherjayne1972 Wed 17-Feb-16 17:04:06

It's a semi detached house. He was interested in what my rock bottom price would be

WordGetsAround Wed 17-Feb-16 17:04:36

If he offers asking price, then definitely. He'll need to go through your Agent though and as PP said you'll need to pay the agreed fees.

peggyundercrackers Wed 17-Feb-16 17:04:49

ask him what his offer is - if it isn't what you want tell him. if you don't want to go through EA you don't have to - just tell them you have taken it off the market and you have changed your mind. you don't need an EA to sell your house - its just that people are used to using them.

no need to play games...

WordGetsAround Wed 17-Feb-16 17:05:25

Hold out then. Don't sell too soon for rock bottom

Moving15 Wed 17-Feb-16 17:06:21

Your contract with the EA probably sayss you must direct any interested parties to them. Which is what I think you should do in this situation. You can't bypass the EA fee just because he knocked on your door.

ThroughThickAndThin01 Wed 17-Feb-16 17:06:28

You'll still be due to pay the estate agent if you sell to neighbour.

If the figures work though, go for it.

WordGetsAround Wed 17-Feb-16 17:06:51

Check the small print. If you take your house off from the agent but then sell within a stated period of time you will still be liable for the fees

expatinscotland Wed 17-Feb-16 17:07:03

'He was interested in what my rock bottom price would be'

Sounds a right charmer. Tell him you're looking for the asking price and to contact the EA if he'd like to make an offer. He sounds like he'd be a nightmare buyer.

ThroughThickAndThin01 Wed 17-Feb-16 17:07:26

Ignore Peggy, that's not good advice. If the EA is due their fee, they'll come after you.

WordGetsAround Wed 17-Feb-16 17:07:51

Sorry! I keep cross posting with others! Hold out for a better offer this early in the game

aginghippy Wed 17-Feb-16 17:14:07

Look at the terms of the contract you signed with the ea. As pp say, you would probably have to pay their fee if you sold to neighbour.

No reason to sell for 'rock bottom' if it has only been on the market for 2 weeks.

Heatherjayne1972 Wed 17-Feb-16 17:15:21

Thanks everyone. I'm not looking to dodge EA fees. Just like the idea of a quick sale as hubby and I have parted company and I'd like to move on. I Need to check what EA contract actually says don't I

expatinscotland Wed 17-Feb-16 17:17:17

A quick sale would be nice, but don't take a 'rock bottom price' just now. This neighbour is chancing his arm.

ThroughThickAndThin01 Wed 17-Feb-16 17:18:02

And if they are due their fees, just make sure that you include it in the price you agree to your neighbour so you aren't out of pocket over it.

Maryz Wed 17-Feb-16 17:24:23

Be careful if you are selling after a split, especially if the proceeds are to be divided between you. It needs to be above board, so your ex doesn't think you're selling for cash to diddle him - happened with a friend of mine, her ex sold the house for a very odd price to someone who turned out to be a relation hmm

DSClarke Wed 17-Feb-16 17:46:43

If you have just split and this neighbour is sniffing around and offering you rock bottom he is trying to take advantage of you, and my bet is that the transaction would turn out to be a nightmare. Do not engage with him other than talking him to contact the EA

amarmai Wed 17-Feb-16 18:03:05

had same sit and every little thing he said he had to fix was used to knock down the 'rock bottom' price. Don't do it.

Writtenbyme Wed 17-Feb-16 18:06:31

Neighbour thinks you are a distressed seller.

Don't settle for rock bottom. It has only been on the market two weeks.

RaphaellaTheSpanishWaterDog Wed 17-Feb-16 18:18:59

I agree with PP that a) it will need to go through your EA and b) I'd be very wary of rock bottom offers from neighbours. We previously had a neighbour - not next door but along the road - express keen interest in a house we were thinking if selling. He wanted to be the first to view before it went on the market. We obliged, giving him the guided tour and he 'went away to discuss with' his wife - we never heard from him again. Think he was just a nosey bastard

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